Luckin Coffee considering returning to nasdaq listing? Response: The report is untrue

China Network Finance news on January 20, today there is news that "Luckin Coffee is considering returning to nasdaq listing", to which Luckin Coffee responded: The report is untrue.

In 2020, Luckin Coffee broke a scandal of 2.2 billion yuan in performance fraud, and was finally forced to delist by the US regulatory authorities. On June 27, 2020, Luckin Coffee official micro issued a statement saying that the company suspended trading on the NASDAQ on June 29 and delisted for the record.

Following the delisting, in September 2021 Luckin Coffee announced that it had signed a $187.5 million settlement letter of intent with the plaintiffs in the U.S. class action lawsuit.

Previously, on the evening of December 13, Luckin Coffee issued an announcement that the Special General Meeting of Shareholders (EGM) voted to pass various resolutions such as the shareholders' equity plan, the company's organizational outline and the proposed amendments to the articles of association. The above resolution will strictly restrict the transfer of shares of certain former management shareholders in the liquidation process and the corresponding voting rights. After the above resolution comes into effect, Luckin Coffee shareholders will not be allowed to transfer the company shares to any restricted person, and no restricted person may transfer the company shares, or such restricted persons will not exercise voting rights in respect of the company shares legally or actually owned. The decision was alleged to be a necessary defense against the return of the former fake management.

As of September 2021, Luckin has 5639 stores, surpassing Starbucks in total stores and city coverage, and its performance is back on track. According to the financial report, luckin Coffee's total net revenue in the third quarter of 2021 was 2.350 billion yuan, an increase of 105.6% year-on-year; the net loss was 23.5 million yuan, compared with a net loss of 1.7112 billion yuan in the same period last year, a decrease of 98.6% year-on-year; the average monthly trading customer was 14.7 million, an increase of 79.2% year-on-year.

Luckin believes that after several consecutive quarters of growth, Luckin Coffee has entered an upward development track.

This article originated from China Net Finance